There's a new business relief program in Tennessee established to help more biz owners
As businesses continue to suffer financially, there is a new program that will replenish what companies lost as a result of the COVID-19 Pandemic.”
It’s more of a reimbursement program,” said Kelly Cortesi, the Director of Communications for the Department of Revenue.
This week governor lee, along with the financial stimulus accountability group, announced an initial $50 million in federal coronavirus relief funds.
“A small business with income under $10 Million can apply.”
The money comes from the supplemental employer recovery grant. The biz owners who may not have been eligible for other business relief funds could get a cut from this.
“A business can apply for reimbursement in one of two areas. The first is the cost of responding to COVID-19,” said Cortesi.
This will cover the cost for entrepreneurs to implement safety measures.
“Cost of creating social distancing measures, contactless equipment.”
The other reimbursement area could cover pandemic disruptions, including payroll expenses and the cost of critical business operations.
Ten percent of these funds are set aside for specific groups.
Kelly Cortesi-Director of Communications, Department of Revenue
“So there is some dedicated funding kind of set aside in the program, it’s $5 Million. For minority-owned, women-owned, people with disabilities and service-disabled veterans.”
The department of revenue is accepting applications, and the deadline is December 29. The maximum amount one can receive is $30,000.